Charitable
Remainder Trusts and Residual Interest
Charitable
remainder trusts
With
a charitable remainder trust, the donor transfers property
to a trust where it's held and managed by a trustee.
The trust is most commonly funded with cash, bonds, real
estate or securities which are transferred irrevocably
to a trustee. If the property is income-producing, the
net income will be paid to the donor or any other designated
beneficiary. When the trust ends -- usually at death
or a specified term -- the remainder is distributed to
the Alzheimer Society. This type of gift is a great way
to reduce probate fees since these assets do not form
part of your estate. The trust is particularly beneficial
from a tax standpoint for people age 70 and older.
Residual
interest
Gifts
of residual interest refer to an arrangement under which
property, such as a home or farm, is deeded to the Alzheimer
Society. The donor, however, retains the use of the property
for life or for a predetermined period, and receives
a charitable receipt for the present value of the residual
interest.
Contact
us
The
professional staff of our Office of Gift Planning are
available to provide, confidentially, the information
you need about these forms of gift planning. Please contact
us at plangiving@alzheimer.ca for
more information.
The Alzheimer Society understands that donors consider estate and gift planning to be a strictly confidential matter. Please be assured your enquiry will be handled in a manner that respects your privacy and maintains confidentiality. See our Privacy page for more information.
[Note:
Information on this page is not intended as specific
financial planning or legal advice. You should always
consult your legal advisors, financial planners and family
members when considering a planned gift.]
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